Earnings Per Share

9 Months Ended

Jun. 30, 2020

Basic income (loss) per share is calculated by dividing net income (loss) by the weighted-average number of shares outstanding during the period. Diluted income (loss) per share adjusts the basic income (loss) per share for the effects of any potentially dilutive securities in periods in which the Company has net income and such effects are dilutive under the treasury stock method.

Following is a summary of the components of basic and diluted income (loss) per share for the periods presented:


	Three Months Ended June 30,						Nine Months Ended June 30,
in thousands, except per share data	2020		2019		2020		2019
Numerator:
Income (loss) from continuing operations	$	15,270	$	11,625	$	28,689	$	(81,885)
Loss from discontinued operations, net of tax	(82)		(23)		(141)		(64)
Net income	$	15,188	$	11,602	$	28,548	$	(81,949)

Denominator:
Basic weighted-average shares	29,597		30,250		29,738		30,926
Dilutive effect of restricted stock awards	76		225		267		—
Dilutive effect of stock options	1		14		9		—
Diluted weighted-average shares ^(a)	29,674		30,489		30,014		30,926

Basic income (loss) per share:
Continuing operations	$	0.51	$	0.38	$	0.96	$	(2.65)
Discontinued operations	—		—		—		—
Total	$	0.51	$	0.38	$	0.96	$	(2.65)

Diluted income (loss) per share:
Continuing operations	$	0.51	$	0.38	$	0.95	$	(2.65)
Discontinued operations	—		—		—		—
Total	$	0.51	$	0.38	$	0.95	$	(2.65)

^(a) The following potentially dilutive shares were excluded from the calculation of diluted income (loss) per share as a result of their anti-dilutive effect. Due to the reported net loss for the nine months ended June 30, 2019, all common stock equivalents were excluded from the computation of diluted loss per share for those periods because inclusion would have resulted in anti-dilution.


	Three Months Ended June 30,			Nine Months Ended June 30,
in thousands	2020	2019	2020	2019
Stock options	372	406	390	529
Time-based restricted stock	286	94	49	643
Performance-based restricted stock	—	—	—	796